Shell to spend a quarter of offshore budget on Namibia

WINDHOEK, November 3, 2023 – Shell has allocated a quarter of its 2023 and 2024 offshore deepwater exploration spending to Namibia, the company’s CEO announced in its third quarter results webcast.

The company plans to drill another exploration well, another appraisal well and carry out at least one more flow test in the next six to nine months.

Shell has made four discoveries in Namibia, including Graff in early 2022, La Ronsa, Lesedi and most recently Jonker.

The Jonker discovery is expected to hold 2.5 billion barrels of oil in place.

Shell has stake in the PEL-39 concession in Blocks 2913A and 2914B, which sits on Namibia’s prolific Orange Basin.

Shell is operator of the concession with a 45% working interest, along with partners QatarEnergy with a 45% stake and National Petroleum Corporation of Namibia with a 10% stake.

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